Standard Chartered forecasts Vietnam’s economic growth at 6.7% in 2022
Standard Chartered has forecast Vietnam’s GDP growth at 10.8% in the third quarter and 3.9% in the last quarter of 2022, contributing to annual expansion of 6.7%.
Standard Chartered forecasts Vietnam's economy will grow 6.7% in 2022. (Photo: VNA)
Hanoi (VNA) – Standard Chartered has forecast Vietnam’s GDP growth at 10.8% in the third quarter and 3.9% in the last quarter of 2022, contributing to annual expansion of 6.7%.
Strong economic recovery will be seen in the latter half of the year, especially when the tourism sector has reopened after a two-year shutdown, according to Tim Leelahaphan, Standard Chartered's economist for Thailand and Vietnam.
Economists at the bank also projected that the State Bank of Vietnam will keep the interest rate at 4% this year to assist businesses and the recovery process despite growing inflation. Retail sales will continue improving strongly, with 30.2% in July, compared to 27.3% in June.
Imports, exports and industrial production are predicted to respectively increase by 22.2%, 20% and 15% in July, compared to 20%, 16.3% and 11.5% in June. Meanwhile, Vietnam is likely to record a trade deficit this month, they said.
Inflation will accelerate to 3.6% in July from 3.4% in June - the fastest pace in two years, mostly due to supply pressure while demand is also gradually increasing, Leelahaphan noted, adding that inflation is still under control at present.
Recently, HSBC raised Vietnam’s growth outlook this year to 6.9% from the previous prediction of 6.6% but also downgraded the forecast for 2023 to 6.3% from 6.7%.
The Singapore-based United Overseas Bank (UOB) also revised up the country’s 2022 GDP growth forecast to 7.0% from 6.5%, assuming no further severe domestic disruptions from COVID-19, and growth of around 7.6% - 7.8% in the second half of the year.
Meanwhile, the Asian Development Bank (ADB) maintained its growth forecast issued in mid-April, at 6.5% for 2022 and 6.7% for 2023.
In the first half of 2022, Vietnam’s GDP grew 6.4% from the same period last year thanks to the expansion of 9.7% in the manufacturing sector and 6.6% in the service sector./.
HSBC has raised its forecast for Vietnam’s economic growth this year to 6.9%, from the previous prediction of 6.6%, which is possibly the fastest pace in the region.
In an article posted on July 12, The Business Times of Singapore cited some economists' opinions that said Vietnam’s economy is back on track for a strong recovery this year.
The Vietnamese economy grew by 7.7% in the second quarter, one of the fastest rates in a decade, and is expected to expand even faster this quarter, driven by an ongoing burst of consumption.
Vietnam’s economic growth this year can reach up to 6.9% in the best-case scenario, the Central Institute for Economic Management (CIEM) announced during a recent Hanoi workshop to launch a report on Vietnam’s economy in the first half of 2022.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Standard Chartered forecasts Vietnam's economy will grow 6.7% in 2022. (Photo: VNA) 
